Good Funds in Rhode Island

Wet or Dry Settlement

Wet

Definition

The disbursement must be in the form of cash, wired funds, certified check, government check, teller?s check issued by a depository institution and drawn on another depository institution located in Rhode Island, cashier?s check, or another immediately available source of funds. RI Gen. Laws 19-9-10.

Requirements

Must have good funds at or before closing.

Exceptions to Requirements

N/A

Cross-References

• Rhode Island
• Good Funds